You're right to a certain extent. Therefore, it is not advisable to trade corrections. It is possible, but not desirable. If there is a target in the direction of the impulse, it is better to work with pending orders.
I only make trades with pending orders. And yes - not for all ideas, because often I need confirmation in the form of a pattern or when I am sure that the momentum has really started to develop. I have a test account where I test these trades. So far about 60% of the trades are profitable. The main thing is to observe risk management.
I regret a bit that on gold I didn't close all the positions in the upper levels. I closed some of them with a profit, and some of them went to breakeven.
You probably learn how to trade from the Professional writers / talkers. Unfortunately, those are not professional traders. Based on your postings, the success rate is going to be < 1%. That means you wouldn't be able to earn $$$. You have to increase it to say 30%. As mentioned, you have to track your STOP, reward : Risk ratio ... Also you need to have an edge (6th sense or whatever) to bring up the success rate. Based on your posting #1, you don't have an edge because you focused purely on TA. You need to have worldly fundamental holistic pictures or some other edges.
Well. Maybe that's true, but I like my trading, let I have about 5% profit per month. I like knowing that I have a small but stable profit.
(UPDATE) DJI (4H): Long to the resistance area 39156.49. ➡️Colleagues, perhaps the price will reach the target without closing the gap. It can happen and the price will close the gap later. This gives us a hint that the 38458 area will still be worked out in the future. I recommend to set trade to breakeven. (Breakeven=Risk Free: Move Stop loss to the entry level). (UPDATE) 5️⃣ SPX500 (4H): Long to 100% Fibo lvl 5209. ➡️Colleagues, the price has almost reached the target. I assume that a small correction is possible, but I expect the scenario to be completed. I recommend to set trade to breakeven. (Breakeven=Risk Free: Move Stop loss to the entry level). (UPDATE) Oil (4H): Long to resistance area of 84.42. ➡️Colleagues, the price is about to reach the support area. But in any case, I am considering only long positions. Price is taking too long to update the low of wave “4”. EUR/USD (4H): Long to resistance area at 1.08843.. ➡️Dear Colleagues, I believe that the price is in the impulsive movement of the senior wave “3” and in the junior corrective wave “2”. Therefore, I expect the price to correct to the area of 50% - 61.8% Fibonacci levels at 1.07217, then I expect the upward movement to continue and reach the resistance area at 1.08843. (UPDATE) GOLD (4H): Long to resistance area of 2358.71. ➡️Gold is starting its upward movement again. The price has updated the local high of 2328.500 and this means that I again expect the scenario to be completed. I recommend to set trade to breakeven. (Breakeven=Risk Free: Move Stop loss to the entry level).
5️⃣ SPX500 (4H): Long to resistance area 5282.3. ➡️Dear colleagues, I assume that the upward movement in the senior wave “3” will continue, but after a small correction, presumably to the area of 50% Fibonacci level 5117.0 . Then I assume the continuation of the upward movement to the resistance area 5282.3. (UPDATE) EUR/USD (4H): Long to resistance area at 1.08843.. ➡️Colleagues, the price is moving towards the support area at 1.07217. After reaching this area, I expect the beginning of the upward movement. I remind you that I do not recommend entering short positions and consider only long positions.